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The Most Splendid Housing Bubbles in Canada: Even the Bank of Canada Gets Nervous and Tapers
The Most Splendid Housing Bubbles in Canada: Even the Bank of Canada Gets Nervous and Tapers House prices in the largest markets have gone nuts amid “extrapolative expectations and speculative behavior,” as the Bank of Canada put it. The first thing to know about the housing bubble in Canada is what the Bank of Canada […]
Everything is On Fire
EVERYTHING IS ON FIRE “Everything is on fire” – Heraclitus (535-475 BC) What Heraclitus meant was that the world is in a constant state of flux. But the big problem in the next few years is that the world will experience a fire of a magnitude never seen before in history. I have in many […]
Weekly Commentary: Un-Anchored
Weekly Commentary: Un-Anchored A big week on the inflation front. April CPI was reported up 0.8% versus estimates of 0.2%. And while the 4.2% y-o-y increase was partly a function of the year ago negative CPI prints, it’s worth noting CPI was up 2.1% over just the past four months. “Core” CPI increased a much […]
Monetary Inflation’s Game of Hide-and-Seek
MONETARY INFLATION’S GAME OF HIDE-AND-SEEK The May 12, 2021, press release from the Bureau of Labor Statistics reporting on the Consumer Price Index (CPI) for the month of April sent the stock markets tumbling for two days and generated fodder for the news pundits with the announcement that the CPI measure of the cost-of-living had increased […]
Peter Schiff and Tucker Carlson: The Financial Crisis Will Be Worse Than the Pandemic
Peter Schiff and Tucker Carlson: The Financial Crisis Will Be Worse Than the Pandemic Consumer Price Index (CPI) data for April came in much hotter than expected. Year-on-year, inflation is up 4.2%. The big number even prompted Federal Reserve Vice Chairman Richard Clarida to say, “We were surprised by higher than expected inflation data.” Peter Schiff appeared on Tucker […]
The Secret
The Secret The secret is out. It can no longer be denied and it’s up to each and everyone of us to help bring the secret to the forefront of public awareness. For the mainstream financial media won’t do it, indeed they allow the guardians of the secret to continue to deny its existence. For […]
The American infrastructure, ancient Rome and ‘Limits to Growth’
The American infrastructure, ancient Rome and ‘Limits to Growth’ Infrastructure is the talk of the town in Washington, D.C. where I now live and with good reason. The infrastructure upon which the livelihoods and lives of all Americans depends is in sorry shape. The American Society of Civil Engineers 2021 infrastructure report card gives the United States […]
Turning Out the Light When the Bankers Leave Town
Turning Out the Light When the Bankers Leave Town I have written before how a friend of mine who is very senior at one of the investment banks in New York called to see if I would go to dinner. I thought he was here in Florida to catch a breath of fresh air and […]
Dollar’s Demise And Doom Predictions Are “Over Hyped”
Dollar’s Demise And Doom Predictions Are “Over Hyped” A lot of people including Americans have come to the conclusion the dollar is about to collapse. Predictions of the dollar’s demise are likely premature and overblown. Recently a combination of factors has caused people to become concerned about storing their wealth in the dollar. This has […]
Spiking Inflation, Rate Hikes, and Debt Defaults in Latin America
Spiking Inflation, Rate Hikes, and Debt Defaults in Latin America Mexico and Brazil, having seen the economic destruction that high inflation can wreak, don’t want to see it again. Latin America will soon be hit by a wave of business bankruptcies and defaults, according to Jesús Urdangaray López, the CEO of CESCE, Spain’s biggest provider of export […]
Karl Marx’s Road to Hell is Paved with Fake Money
Karl Marx’s Road to Hell is Paved with Fake Money “The way to Hell is paved with good intentions,” remarked Karl Marx in Das Kapital. The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money. Marx, a rambling busybody, was habitually wrong. The […]
“This Is All About Stagflation… The U.S. Is Walking Into The Early Stages Of The Fourth Turning”
“This Is All About Stagflation… The U.S. Is Walking Into The Early Stages Of The Fourth Turning” We believe the U.S. is walking into the early stages of the Fourth Turning, a subject entertained below. In this note we break down the ideal 2020-2030 portfolio and why it is so different from the 2010-2020 vintage. […]
New bull chart for $30,000 copper price: porphyries nearly mined out
New bull chart for $30,000 copper price: porphyries nearly mined out Bad moon rising over porphyry deposits. Radomiro Tomic, Chile. Image from Codelco. Predictions for copper at double or triple today’s level is a fairly recent phenomenon – and bears still outnumber bulls as to what’s next for the bellwether metal. Wall Street natural resource […]
